Sukuk Issuance Cross $1 Trillion Mark

Since the issuance of the first modern sukuk in 1996, cumulative issuance of sukuk has crossed the US$ 1 trillion mark. As of the end of 2018, outstanding sukuk were valued at US$ 469.7 billion across 2,887 sukuk. The Saudi and Malaysian governments were the largest issuers in 2018, at US$ 17.1 billion and US$ 13.9 billion. Malaysia maintained its lead position in terms of issuances, boosted by the return of short-term murabaha sukuk from Bank Negara Malaysia. The central bank resumed sukuk issuances after a three-year hiatus. It issued US$16.1 billion in shortterm sukuk during the second half of 2018.